A New Jersey based design/build manufacturer of high risk products designed specifically according to government contract specifications was having difficulty finding coverage. Several brokers were approached and did not have the expertise to provide a solution. Due to increased project requirements, location needed to be moved to accommodate growth. Liability and property coverages would need to cover the location and operations properly.
- Audit all products and revenue sources
- Properly determined and thus explained the true risk to the insurance marketplace.
- Conducted an in depth survey of products
- Allowing our client to fully understand the exposure inherent.
- Evaluate and place coverage
- Placed coverage in a specialty program of a standard carrier by showing the products produced where only parts of an eventual product that was causing the problem exposure.
- With clear understanding, multiple carriers where comfortable in providing adequate coverage at a reasonable price.
- They have now been able to expand their business into other markets.